Saudi Arabia tries its best to promote the country’s economy to be one of the countries that attract investments in general and real estate in particular. It is worth to mention that the Saudi ministry of housing has announced that there is almost 27 thousand residential units to be launched which means delivering almost 280 thousand unit around 2017.
Such declaration means that the fifth phase of the residential units of “Sakany” project aims to deliver these units in all areas of Saudi Arabia.
However, Prince Saud Bin Talal -the advisor of the Ministry of Housing- has announced that “Sakany” project will provide all the needed facilities and there will be variable units that will suit all. Not only that, but also the percentage of the “needs” will be the main motivator behind dividing the units fairly to whom truly need it; according to the ones who are in a dire need and apply through the electronic gate.
Moreover, it is worth to mention that the private sector which is represented in real estate developers will be a partner in this project. Besides, the aim of this project is to promote real estate investment, increase the GDP from the real estate sector, and provide variable units that suit the needs of the applicants. This of course will affect real estate positively.
Regarding the delivery date, it is expected to deliver the units within 3 years.
KSA is the future for Real Estate investment.